Brunswick (NYSE:BC) Sets New 12-Month Low – Here’s What Happened

Brunswick Co. (NYSE:BC) shares hit a new 52-week low during trading on Friday . The stock traded as low as $62.91 and last traded at $63.04, with a volume of 292277 shares. The stock had previously closed at $65.14.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Benchmark restated a “buy” rating and set a $100.00 target price on shares of Brunswick in a research report on Friday, October 25th. Citigroup boosted their price objective on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Truist Financial decreased their target price on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, B. Riley downgraded shares of Brunswick from a “buy” rating to a “neutral” rating and lowered their price target for the company from $95.00 to $88.00 in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.15.

Brunswick Price Performance

The company has a market cap of $4.16 billion, a P/E ratio of 15.67 and a beta of 1.54. The firm’s 50-day moving average is $74.84 and its two-hundred day moving average is $77.09. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.97 and a quick ratio of 0.74.

Brunswick Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 20th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Wednesday, November 20th. Brunswick’s payout ratio is 41.79%.

Insiders Place Their Bets

In other news, CEO David M. Foulkes sold 23,829 shares of Brunswick stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the completion of the sale, the chief executive officer now owns 251,094 shares of the company’s stock, valued at approximately $20,142,760.68. The trade was a 8.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nancy E. Cooper sold 366 shares of Brunswick stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.19, for a total transaction of $29,349.54. Following the sale, the director now directly owns 24,557 shares of the company’s stock, valued at $1,969,225.83. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,940 shares of company stock valued at $2,321,176 over the last ninety days. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Brunswick

Large investors have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in shares of Brunswick during the 3rd quarter valued at $26,000. Avior Wealth Management LLC lifted its holdings in shares of Brunswick by 1,073.7% during the 3rd quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock valued at $56,000 after purchasing an additional 612 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Brunswick by 669.0% during the 3rd quarter. Covestor Ltd now owns 969 shares of the company’s stock valued at $81,000 after purchasing an additional 843 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Brunswick by 92.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,155 shares of the company’s stock valued at $97,000 after purchasing an additional 555 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Brunswick by 21.6% during the 3rd quarter. CWM LLC now owns 1,323 shares of the company’s stock valued at $111,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 99.34% of the company’s stock.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.